Charges dismissed against Samsung heir

DPA
·1 min read
Samsung Electronics Co. Chairman Lee Jae-yong (C) leaves the Seoul Central District Court, after the court acquitted Lee in connection with the controversial 2015 merger of two Samsung affiliates, allegedly conducted to help him secure the management rights of the Samsung empire. -/yonhap/dpa
Samsung Electronics Co. Chairman Lee Jae-yong (C) leaves the Seoul Central District Court, after the court acquitted Lee in connection with the controversial 2015 merger of two Samsung affiliates, allegedly conducted to help him secure the management rights of the Samsung empire. -/yonhap/dpa
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The heir to the Samsung empire, Lee Jae Yong, has been acquitted by a court of charges of share price manipulation and other financial offences.

The district court in Seoul handed down its judgement on Monday in a trial related to the controversial merger nine years ago of two subsidiaries of South Korea's largest company, Samsung C&T and Cheil Industries.

According to reports by South Korean broadcasters, the judgement stated that no illegal activities could be proven against 55-year-old Lee.

Critics saw the merger as a tactic intended to strengthen the Samsung founding family.

Lee is the grandson of company founder Lee Byung Chul.